Echo Funding in New York | Swift Deal Funding
Echo Funding in New York
Echo funding covers the cash an end buyer needs for their down payment at closing, repaid directly from the seller’s proceeds — which on a wholesale deal is your assignment fee. For New York wholesalers, that lets a cash-light buyer close while you collect your fee at the table. Swift Deal Funding is a direct lender, so there’s no credit, income, or tax review. Funded down payments here range from modest upstate amounts to larger downstate deals, generally $15,000–$60,000, capacity to $10 million, at a flat 2.5%.
How Echo closes in New York
New York is an attorney-closing, wet-funding state, so the mechanics run through a closing attorney and settle at the table. We wire the funded down payment into the closing attorney’s escrow ahead of closing. The purchase contract and assignment are signed, and because New York funds wet, the attorney disburses at the closing — proceeds to the seller, our advance plus the 2.5% fee repaid from your assignment fee, and your net to you. There’s no waiting on recording for money to move. Whether the deal is a low-basis Rochester flip or a higher-priced Long Island transaction, the assignment and disbursement instructions go to your closing attorney, who controls escrow. Build the Echo repayment into the disbursement schedule with that attorney before you set a closing date, since they — not a standalone title agent — run the table in New York.
Pricing
Flat 2.5% of the funded amount. No application fee, no origination fee, nothing upfront — collected through the closing statement and netted from your assignment fee.
What you’ll need
- Executed purchase contract
- Executed assignment showing your assignment fee
- Assignment fee ≥ funded down payment + 2.5% fee
- Closing attorney ready to disburse with the Echo repayment included
- All parties aligned on the closing timeline
A typical New York Echo scenario
A wholesaler in Syracuse has a buyer who’s approved on financing but short the down payment. Purchase price is $190,000 with a $28,000 assignment fee. The buyer needs $14,000 down, which we fund into the closing attorney’s escrow. New York funds wet, so at closing the attorney disburses: our $14,000 plus the 2.5% fee ($350) comes out of the assignment fee, and the wholesaler nets $13,650. The deal closes at the table the same day, no waiting on recording.
Apply
Send your purchase contract and assignment online; we confirm the assignment fee covers the funded down payment plus our fee, then coordinate disbursement with your New York closing attorney. Turnaround is about 48 hours.
Frequently Asked Questions
How does Echo funding work at a New York attorney closing? +
Echo funds your end buyer's down payment so the deal can close, and we're repaid from the seller proceeds — your assignment fee — at disbursement. New York closes through a closing attorney rather than a title agent acting alone, so the attorney's escrow holds the funded down payment and handles the disbursement. Because New York is a wet-funding state, repayment happens at the table: our advance plus the flat 2.5% fee comes out of your assignment fee before your net releases. Confirm the disbursement order with your closing attorney.
Does Echo make sense on expensive downstate New York deals? +
It can, but the assignment fee has to carry the math. On a pricey Westchester or NYC-area deal the down payment is larger, so you need an assignment fee big enough to cover the funded amount plus our 2.5% and still profit. Upstate deals in Buffalo or Syracuse, where prices are lower, often pencil more easily. We confirm the fee clears before approving, regardless of region.
What does Echo funding cost in New York? +
A flat 2.5% of the amount funded — no application fee, no origination fee, nothing upfront. It's collected through the closing statement and netted from your assignment fee when the closing attorney disburses. Because New York funds wet, that repayment happens at the closing table rather than after recording, but the cost is identical to every other state we fund in.
Apply for Echo Funding in New York
Submit your application online — same-day decisions for complete files before 2 PM Eastern.